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Mortgage Market Update
My Mortgage Company
Megan Cox
Tuesday, November 3, 2026
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Choosing the right loan program for you |
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Hi there,
I want to help you understand the loan options available to you—because the type of mortgage you choose matters more than most people realize.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Loan Programs
Conventional vs. FHA: which loan fits your situation?
When you're ready to buy or refinance, the type of loan you choose shapes everything—your down payment, monthly payment, and long-term costs. Conventional loans and FHA loans are two of the most common paths, and they work very differently. Conventional loans typically require a larger down payment but may offer lower rates and fewer fees over time. FHA loans are designed to help borrowers with smaller down payments or less-than-perfect credit get approved. Neither is universally "better"—it depends on your financial picture, credit score, and how long you plan to stay in the home. The right choice can mean real savings. If you're unsure which program makes sense for you, I'd love to walk through your options. Reach out and let's talk about which loan program could work best for your goals.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Megan Cox
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